Schwerwiegende Auswirkungen für Ledger-Nutzer – aufgrund des gestrigen EU-Gesetzes zur „unhosted wallet“.
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Ähm… lasst mich raten.
Ledger wird jedes Mal, wenn Sie Geld von einer Börse senden/empfangen, eine Art automatische KYC durchführen, die direkt identifiziert, wer der Benutzer hinter Ihrer Ledger-Wallet ist.
So wie es Trezor auf Anfrage der Schweizer Behörden gemacht hat.
Leider müssten sie dem nachkommen.
Haben Sie eine Idee? Bitte bleiben Sie in der Diskussion höflich. Ich danke Ihnen!
**EDIT**
Dieses Video deckt es wunderbar ab. Alles, was Sie wissen müssen. -
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Furthermore reading to this:
– New law also wants to scrap the floor for crypto payments, so payers and recipients of even the smallest crypto transactions would need to be identified, including for transactions with unhosted or self-hosted wallets.
– Companies will have nine months to adapt to the new ruling and then 18 months to ensure they fully comply with the new regulations.
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This would defeat the purpose of a hardware wallet. They would only be able to do so for Ledger Live use. If they do, many users will stop using Ledger Live – assuming they don’t just transfer their funds to a different wallet and drop Ledger entirely.
Ledger likely makes money from the partners whose services are available via Ledger live, and losing Ledger Live users means less revenue for the company. It would be stupid of them not to at least try to find ways to avoid having to enforce KYC in Ledger Live.
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Either this kills ledger, because ehm how are they gonna send you an empty ledger that you configure with a new random 24 word seed? Or they will fall outside this regulation.
I think it’s the latter.
And it makes no sense to include ledger in this. It’s not about who exactly owns which address. It’s about who owns the address that wants to cash out to fiat. And exchanges already (more or less) comply with these rules.
Kraken has an ‘address book’ for addresses you send to regularly. I’m the future you’re probably gonna have to say ‘I own this address’ and perhaps even send a small amount from that address to the exchange to prove it. Or include an exchange generated code in the ‘note field’ to prove the address is controlled by you. Is this water tight? No. You could easily forward that code to a third person that then sends it to the exchange.
So all of these rules are made by people that fear crypto, and sure as hell don’t understand it. And 100% are not familiar with the actual process of sending and receiving crypto. It’s just symbolic regulation that can’t be enforced.
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Hello, I think we all have read the new EU papers for „Unhosted Wallets“. So please let me tell, I bought Ether with bitcoin.de german exchange and stored them in my ledger for several years. Why it should be a problem to withdraw Ether in EUR, let’s say in 2 years and EU law for „unhosted wallets“ is passed in the actual form. I mean it’s the same address I bought from bitcoin.de exchange or similar??? I think here they can not lump every customer together and if you take legal action against this law, you should be proven right in court.
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So I am about as far from a computer expert as you can get but I bought a ledger for privacy and safety, haven’t even set it up yet and now there are several of these posts so I have questions. Ledger states in the operators manual that every ledger wallet holds a secret key in order to pass the check to prove it is a genuine ledger. So they collect you name, address, and phone number when you purchase the product, and the product has a unique key that could be tied to you when they ship the product with a tracking number for shipping. You have to connect to ledger live to activate your wallet which results in your ip and your region and language of your operating system(direct from ledgers website) being recorded. So now through the purchase they have a wallet with a unique secret key being shipped with a unique tracking number to a customer whose name, address and phone number they also have recoded. When you set up the wallet your ip, region and the addresses generated are also tied together with all of this. Am I correct or way off base here?
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I read the Twitter thread from Patrick Hanson as well as the proposed EU regulations, and I am puzzled as to why you ( u/aFungible ) decided that it would apply to Ledger in any capacity, shape or form? Ledger is not a cryptocurrency services provider — it’s a device that holds private keys and can sign transactions. And it is intended purely for non-custodial (or „unhosted“ as the EU bureaucrats erroneously refer to) wallets.
You will be affected when sending funds from a non-custodial wallet to a CEX, but it is true regardless of whether you use a hardware or a hot wallet. So, your post is a FUD, and a very non-educated FUD at that.
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Ledger doesn’t have the power to do such a thing.
I mean, „YOU“ have the keys if you are using a Ledger, you could write your own damn wallet software to access your cryptos if you knew how to code. You don’t NEED the Ledger to access them, only to do it while keeping your keys offline and private.
That applies to ALL non-custodial wallets and why Nunchuk Wallet laughed at Canada when they were given a court order to freeze funds.
The issue is going to be cashing out the cryptos to CEX’s that deal with banks.
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The EU want to verify not only the customer of a CEX but also want to know if the inflow and outflow of crypto is the same person as the one that has been KYC on the CEX.
The EU thinks the crypto industry can easily figure this out.
The reality is very different and will cause data honeypots that either a bad CEX will tap in or hackers will hunt these list down. These list will consist the name, address, birthday, and ofc the digital assets on crypto addresses. Even if you use a new generated address, the hackers and other observers can easily follow on the public blockchain. A great risk for high profile users that could be digital or physical attacked.
The EU really doesn’t seems to understand the implications. Even if a CEX is gonna for the ‘sign this message on you crypto address’ even then, the CEX cannot comply. Bc a bad user can easily let another users sign that message. Basically the CEX cannot verify 100% that the addresses belongs to the KYC user on their CEX.
CEX is really scared that it cannot comply. So this will lead that CEX will only allowing other CEX to deposit and withdraw crypto currency. Meaning the EU want to split the CEXs and real use of the blockchain in two. One hand the CEXs. And the other hand the real blockchain.
EU really missed out. I think this law will really impact the 11 years crypto movement and they are targeting as of everyone is really bad. Research after research are saying that only 0.1% is used by criminals.
The message for now, that if you life in the EU, go and message your politician about this implication on privacy and innovation.
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Do you like sending your crypto to exchanges/off ramps/coinbase/banks and whatever in exchange for fiscal money you can use to buy coffee?
Don’t you think those institutions will KYC you like they do already? Such short sightedness. THINK People. They don’t need to KYC your wallets they just need to KYC your off ramp and register your wallet.
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When you declare your crypto holdings (which you must here) they already know who has what, so giving KYC on exchange won’t change anything… if you were not declaring your assets before you were probably already evading taxes on gains so hard to find pity when others are paying for your instruction and health and welfare… this is Europe my friend 😉
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